44 Total Quotes

Steven Wieting Quotes

Seeing a two-year low in confidence in the wake of Hurricane Katrina isn't that surprising. The news in the month of September has been terrible. The television coverage and the emotional impact of the story has a big effect on confidence in the short run. But spending has been inconsistent with these confidence numbers.
Steven Wieting Permalink
#Confidence

We haven't had a single year of falling consumer spending since 1938. There's no boom or bust in consumer spending.
Steven Wieting Permalink
#Boom

The reaction to this data in the past would have been much more positive. These days only bad news is carrying weight.
Steven Wieting Permalink
#News

This [gain in proprietors' income] is small-business job creation, we think, and it's more useful at this point in the business cycle than it would otherwise be,
Steven Wieting Permalink
#Business

I think energy affects us at every price. As we go marginally higher, growth forecasts get marginally weaker.
Steven Wieting Permalink
#Energy

I think energy affects us at every price. As we go marginally higher, growth forecasts get marginally weaker,
Steven Wieting Permalink
#Energy

I think energy affects us at every price. As we go marginally higher, growth forecasts get marginally weaker. At roughly $50, oil should be holding back GDP (gross domestic product) growth by a full percentage point in the year to come. Fortunately, we have more than a percentage point to give.
Steven Wieting Permalink
#Energy

While the U.S. economy is still transitioning, and will for some time, data that should be supporting confidence in the recovery have not worked to ease investor concerns. We have to wonder if markets won't derail an otherwise quite healthy recovery in much of the core of the U.S. economy.
Steven Wieting Permalink
#Confidence

While the U.S. economy is still transitioning, and will for some time, data that should be supporting confidence in the recovery have not worked to ease investor concerns, ... We have to wonder if markets won't derail an otherwise quite healthy recovery in much of the core of the U.S. economy.
Steven Wieting Permalink
#Confidence

This [gain in proprietors' income] is small-business job creation, we think, and it's more useful at this point in the business cycle than it would otherwise be.
Steven Wieting Permalink
#Business

There is no change in course, and markets have already priced in more action.
Steven Wieting Permalink
#Action

I don't' think we've seen any sign here that there is an urgency to risk damaging the pace of the upturn. Why rush, why panic?
Steven Wieting Permalink
#Risk

It's very unlikely for Fed to worry about month to month data changes, or even two months, as the markets do.
Steven Wieting Permalink
#Worry

It's more of a victory lap. Literally a month ago people were arguing that prices would not stop going up. Now, data we would have killed for two years ago is seen as the end of the world. But alarmists on both sides of this thing have been shown to be wrong.
Steven Wieting Permalink
#People

If you look at labor demand, you should be getting a decent trend. It was only June data that fell below that trend.
Steven Wieting Permalink
#Labor

The fact that we can lower living costs at a time when output and income are recovering should be considered fantastic news.
Steven Wieting Permalink
#Income

Business conditions are really slack. The latest rally in stocks doesn't change that.
Steven Wieting Permalink
#Business

What's most important is that we've got demand and supply moving ahead fast enough that we're absorbing and creating jobs month in and month out -- that's not something to lament.
Steven Wieting Permalink
#Jobs

Whether the Fed goes 25 or 50 basis points next week might mean something for managing market psychology, but it doesn't mean nearly as much for the broader economy. Their language regarding their future considerations on rates is what should matter.
Steven Wieting Permalink
#Psychology

It will be a long time until anybody thinks the economy is stretched and can't produce enough to match demand. We could be dealing with it for all of 2004, certainly.
Steven Wieting Permalink
#Economy

There are several large drags, in a statistical sense. The underlying condition is that we're probably losing jobs. But the February and March data are not indicative of how bad it really is.
Steven Wieting Permalink
#Jobs

Freeing up less productive resources by accomplishing more with less is the entire basis for rising living standards. It shouldn't come as a surprise that stronger periods of economic growth have generally begun during periods of high unemployment, not low unemployment.
Steven Wieting Permalink
#Living

We saw a lot of healing going on in 2002, and nobody gives any credit to it.
Steven Wieting Permalink
#Healing

Friday's number is not going to make much of a difference for the outlook for the economy.
Steven Wieting Permalink
#Economy

This notion that there's just too much tech everywhere contrasts with the fact that there's actually been a spending improvement,
Steven Wieting Permalink
#Improvement

Iraq will be the story until it isn't any more.
Steven Wieting Permalink
#Iraq

We're not expecting an entirely clean read for the durable goods report. The business confidence data began to bottom at the end of June and that's encouraging. We probably will see modest gains in consumer activity and eventually the business cycle will catch up to that. But so far, everything right now is pointing to frustrating moderate economic growth for the time being,
Steven Wieting Permalink
#Business

It takes a lot of confidence to buy cars and homes; people don't make that kind of decision on a whim.
Steven Wieting Permalink
#Confidence

Consumption is growing, government outlays are growing and the third quarter will look very strong. But going forward, business spending is flat and decisions are being deferred. That can keep us weak for the near term -- neither contracting nor expanding.
Steven Wieting Permalink
#Business

In some industries, there's no improvement and the economy is not going to help them.
Steven Wieting Permalink
#Economy